Key regions: Russia, South Korea, Canada, United States, Philippines
The Fresh Fish Market in the EU-27 is currently experiencing negligible growth, impacted by factors such as declining consumer interest and increasing competition from other food markets. Despite this, the market remains a key player in the Fish & Seafood Market and continues to offer convenient options for consumers.
Customer preferences: In recent years, there has been a growing demand for sustainably sourced and traceable fresh fish in the EU-27 market. This trend is driven by an increasing awareness of environmental issues and a desire for healthier and more ethical food choices. As a result, consumers are seeking out certifications such as MSC and ASC, and are willing to pay a premium for products with these labels. There is also a growing interest in locally sourced fish, as consumers prioritize supporting small-scale fishermen and reducing the carbon footprint of their food.
Trends in the market: In the EU-27, the Fresh Fish Market of the Fish & Seafood Market within The Food market is experiencing a rise in demand for sustainable and locally sourced seafood. Consumers are becoming more conscious of their food choices and the environmental impact of their purchases. This trend is expected to continue, as more consumers prioritize sustainability and ethical sourcing in their seafood purchases. Additionally, there is a growing market for online seafood delivery services, providing convenience and accessibility for consumers. This trend is significant for industry stakeholders, as it presents opportunities for market growth and innovation. However, it also poses challenges for traditional seafood retailers, who may need to adapt their business models to meet changing consumer preferences.
Local special circumstances: In the EU-27, the Fresh Fish Market of the Fish & Seafood Market within The Food market is heavily influenced by the region's strict regulations on food safety and sustainability. This has led to a strong demand for locally sourced and certified seafood products. Additionally, the cultural preference for fresh and high-quality seafood has also shaped the market dynamics. In countries like Spain and Portugal, where seafood is a staple in the diet, there is a strong demand for a variety of fresh fish. In countries like the UK and Germany, where there is a growing interest in healthy and sustainable food options, there has been a rise in demand for organic and wild-caught seafood. These local factors play a crucial role in shaping the competitive landscape of the Fresh Fish Market in the EU-27.
Underlying macroeconomic factors: The Fresh Fish Market of the Fish & Seafood Market within The Food market in the EU-27 is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. The market is highly dependent on economic stability and consumer purchasing power, as well as trade agreements and regulations. In countries with a strong economy and favorable trade policies, the Fresh Fish Market is expected to experience growth due to increased demand and consumption. On the other hand, countries with economic instability and stricter trade policies may see a decline in market performance. Furthermore, investments in sustainable fishing practices, technological advancements, and infrastructure development can also have a significant impact on the market's growth. Additionally, factors such as changing consumer preferences for healthier and sustainable food options, as well as the rising awareness of the health benefits of consuming fish and seafood, are contributing to the market's growth in the EU-27.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
